Karnalyte Resources Inc T.KRN

Question from a shareholder

[mdjbrown]

Hi all,

I received a couple questions from a shareholder that maybe one of the accounting aficionados on this Stockhouse board can answer, as I dont know

Hi Brownie    thanks for the post   In the December 31,18 financials it was reported  - cash and cash equivalents around the same time the Rights Offering closed.  A large decommissioning liability was also announced at the same time.  Are all these things somehow related as it is very strange Karnalyte would report a $2 million decommissioning liability due in 2038, when nothing substantial has been done on the Wynyard site for years, and the close of a $2.3 million rights offering in the same quarter.

How did GSFC pay for the shares in the r/o?

Could a Promissory Note from a third party, be reported as a cash equivalent on a corporation’s books?

tia

[mdjbrown]

After hearing from a shareholder in the accounting field, he mentioned it is possibble to record a Promisorry Note as cash alternatives depending on how it was structured, but he would need more info on terms of repayment, timelines etc.  - here you go March 27, 2018   -   Karnalyte largely decommissioned the test cavern site in accordance with the operating permit from